Investors should turn their attention to the potential impact on Bitcoin (btc) The price is now the price of exchange-traded funds (ETFs) for BTC consentBroker Cantor Fitzgerald said in a research report.
Cantor said the approval should be viewed as a “milestone in Bitcoin’s short history, with significant implications for long-term price appreciation.”
“We believe this approval is a significant demand shock to the market, occurring just months before Bitcoin's recurring supply shock: the expected April 2024 halving event,” analysts Josh Siegler and Will Carlson wrote. when Bitcoin halving If this happens, the rewards received by miners are reduced by 50%.
“With upside and theoretical hedging downside, we believe bitcoin miners represent an attractive investment opportunity for equity investors looking for a way to access bitcoin adoption trading over the long term,” the authors wrote, adding that spot ETFs could have “significant value.” “. Positive impact on Bitcoin miner valuations.”
Investment bank HC Wainwright & Co. said: The immediate approval of ETFs is a “historic moment for Bitcoin and miners,” as ETFs provide both individual and institutional investors with a “familiar and regulated investment vehicle” and should significantly expand access to the world’s largest cryptocurrency.
“We believe that many institutional and retail investors interested in BTC lack the desire or ability to invest directly in BTC, given the precise requirements for acquiring the digital asset,” analyst Mike Colonis wrote. “We expect significant incremental demand for Bitcoin via newly approved spot ETFs.”
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